A man watching TV. Media organisations need to make a decisive shift so as to succeed. file photo | nmg
In a recently published report in the Business Daily
on how Facebook is making a foray into video content — a development
bound to dent the traditional TV platform — it became clear that media
organisations are under pressure to reinvent from all angles —
investors, competition, customers, and technology.
Rather
than rethinking what’s possible and transforming industries, we
consistently use new technologies to embellish what we’ve done before.
We’ve
seen this many times with new media. The first morning radio shows
report newspaper headlines, the first morning TV shows were teleplays
with cameras pointed at the readers, even websites today mostly
replicate the digital paper.
Right now a tectonic shift from broadcast to streamed TV is upon us, and sometimes it feels like everyone is missing the point.
People
in an industry tend to see things rather differently from people
outside of it and that is perhaps why Facebook is taking the lead in
innovation around video viewership.
Even in my role
and background in the media I’ve no idea when I’m watching streamed or
broadcast TV, I never know if it’s locally stored or on demand. Yet our
industry thrives on terms like VOD, Linear TV, Traditional TV.
Its said that we’re watching less TV and more video.
Media organisations need to make a decisive shift so as
to succeed. In an era which customers are demanding, intense
competition, and expanding, and investors punishing those without a
digital strategy.
To compete and thrive in the face of disruption, media organisations need to embrace digital reinvention.
Companies have embarked on a digital transformation to offer more individualised experiences.
A
new breed of media company can now spot and respond to the favoured
consumer consumption method — everything-on-demand, on any device.
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